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Rep. Darrell Issa will send a letter to Securities and Exchange Commission Chairwoman Mary Schapiro today attempting to learn whether there was any coordination with Democrats on the timing of the agency’s complaint last week against Goldman Sachs.
AP Photo

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POLITICO 44

California Rep. Darrell Issa, the ranking Republican on the House Oversight and Government Reform Committee, plans to send a letter to Securities and Exchange Commission Chairwoman Mary Schapiro on Tuesday, attempting to learn whether there was any coordination with Democrats on the timing of the agency’s complaint last week against Goldman Sachs.

Issa’s letter will call on the SEC "to provide documents and information to assist this committee in determining whether, through any sort of prearrangement, coordination, or advance notice, the commission has assisted the White House, DNC or Congressional Democrats,” a committee aide told POLITICO. “This is just the first step in an inquiry that could eventually include calls for the issuance of a subpoena or even a forced Committee vote on a subpoena should Issa's call for answers go unaddressed.”

In a statement released Monday, Issa wrote: “It must be nice for Democrats that the SEC's filing against Goldman Sachs so conveniently fits into their political agenda,” referring to the administration’s drive to get a financial services regulatory reform bill through the Congress.

Also on Monday, White House press secretary Robert Gibbs rejected the idea of any synchronization between the SEC and White House. "The SEC doesn't notify the White House of its enforcement actions, and certainly didn't do so in this case," Gibbs said. “We play no role in what the SEC does. It's an independent agency."

But some in the political realm aren’t buying it, though none has presented any evidence to the contrary.

Former New York Gov. Eliot Spitzer told CNBC Monday that it’s “not a coincidence” the SEC filed their civil suit against Goldman Sachs precisely while Democrats are preparing to bring Wall Street reform to the Senate floor. “There’s no question the SEC is desperate to prove that it can enforce the law, desperate to bring in the great white whale,” said Spitzer, who prosecuted securities fraud as New York’s attorney general. “This was not a coincidence. There are no coincidences in this world. None.”

Readers' Comments (17)

I wouldn't believe Robert Gibbs if he said we were under nuclear attack unless I saw the mushroom cloud!! The Obama administration is the most contrieved bunch of wonks ever. It's fitting that election day is in November, that's when we vote out the turkeys! HELL NO!! HELL NO!! HELL NO!! Hell NO more SOCIALISM!!!

I wouldn't believe Robert Gibbs if he said we were under nuclear attack unless I saw the mushroom cloud!! The Obama administration is the most contrieved bunch of wonks ever. It's fitting that election day is in November, that's when we vote out the turkeys! HELL NO!! HELL NO!! HELL NO!! Hell NO more SOCIALISM!!!

I wouldn't believe Robert Gibbs if he said we were under nuclear attack unless I saw the mushroom cloud!! The Obama administration is the most contrieved bunch of wonks ever. It's fitting that election day is in November, that's when we vote out the turkeys! HELL NO!! HELL NO!! HELL NO!! Hell NO more SOCIALISM!!!

I believe the article was wrong in assuming that the timing was coincidence. It was staged as far as I can see. Now let me write a script so Francis Ford Copula can Direct. Start Wall Street Bill, get NCB, MSNBC, ABE et al on line, trot out Geitner (Prio Sachs), Get on Meet The Press (NBC) (Unbiased David Gegory ) Have Dodd hole up a paper of (Peace in our time will not happen again) written by the Democrats only, (Believe Dodd and you will see his 20 million reelection fund and wife working for insurance co.) Have all this go on for about a month, then have our savior Obama make a whirlwind tour and profess this is how to change Wall Street. Weither you believe it or not, believe the bill will work or not, thatis the script. Oh I left out that this will help the nation!. Again this ploy is being used because as far as I can see in the majoy bills alread passed (Stimulus, Tarp, Health Care) they have so many perks in it that the costs outweigh the benefits. To top that off the Congress has admitted that they don't even know what is in the bills, have not had time to rea them before passing but they towed the party line. There has been so many buyouts, and payoffs that is is sickening. The big thing is that the Obama Admin and Congress have blantently acknowledged that itis true to get bills passes. Obama has lied to the nation. Congess is arrogant and sellingout our nation. Disgusted. Oh by the way it is all the Bush fault. Listen up politicians always need a scapegoat. Just red their script.

I believe the article was wrong in assuming that the timing was coincidence. It was staged as far as I can see. Now let me write a script so Francis Ford Copula can Direct. Start Wall Street Bill, get NBC, MSNBC, ABE et al on line, trot out Geitner (Pro Sachs), Get on Meet The Press (NBC) (Unbiased David Gregory ) Have Dodd hole up a paper of (Peace in our time will not happen again) written by the Democrats only, (Believe Dodd and you will see his 20 million reelection fund and wife working for insurance co.) Have all this go on for about a month, then have our savior Obama make a whirlwind tour and profess this is how to change Wall Street. Weither you believe it or not, believe the bill will work or not, that is the script. Oh I left out that this will help the nation!. Again this ploy is being used because as far as I can see in the majority bills already passed (Stimulus, Tarp, Health Care) they have so many perks in it that the costs out weigh the benefits. To top that off the Congress has admitted that they don't even know what is in the bills, have not had time to read them before passing but they towed the party line. There has been so many buyouts, and payoffs that is sickening. The big thing is that the Obama Admin and Congress have blatantly acknowledged that it is true to get bills passes. Obama has lied to the nation. Congress is arrogant and selling out our nation. Disgusted. Oh by the way it is all the Bush fault. Listen up politicians always need a scapegoat. Just read their script.

You have to be pretty dumb to believe that this is just a coincidence that they are bringing this suit at the same time that they are preparing to pass new regulations and, oh yeah, Obama is going to Wall St. to give a political speech about regulating Wall St., and 3 of the SEC members who voted for this are Dems and the 2 who voted against it are Republicans.

With unemployment at almost 10% you would think that Obama would be working with businesess to fix that problem.

I suppose all you Repugnants are IDIOTS!! You complain about everything this Admin tries to do. If you dont want health care...wait til you lose your job and your kid gets sick. You dont want gov't interferance....send back your social security and medicaid checks. You dont want financial reform....dont complain when the big banks squander your life savings on crooked backroom deals. You people are racist, bigots who are out of touch with reality

Sure, cause racism has every thing to do with financial reform. You libs need to grow up. You simply cant expect to have any credibility if you accuse anyone who disagrees with your position as racist. You simply come off as an ignorant poo flinging monkey.

So now the baggers are whining because Goldman Sachs is going to be held accountable for their illegal actions?? What a bunch of suckers you all are, being blindly lead by your noses. You'd all jump off a cliff if the head bagger told you to do so.....By the way, I have some swampland in Florida I'd love to sell to one of you. Really, I'll give you a great deal on it....seriously....no really, just for you, a sweet deal, a bargain at any price. It goes to the most psychotic responder who can recite today's riech wing squawking points....SQUAWK, SQUAWK!

You have to admit, no matter which side of the fence you are on, the timing on the Goldman Sachs suit is EXTREMELY convenient for the Democrats and Obama. I agree with some of the folks who have made comments about this... there are no coincidences in politics. Everything that happens has a string attached to it somewhere. The good news is, if you pull that string at the right time, things can begin to unravel quickly. Stay tuned....

Sure, cause racism has every thing to do with financial reform. You libs need to grow up. You simply cant expect to have any credibility if you accuse anyone who disagrees with your position as racist. You simply come off as an ignorant poo flinging monkey.

So now the baggers are whining because Goldman Sachs is going to be held accountable for their illegal actions?? What a bunch of suckers you all are, being blindly lead by your noses. You'd all jump off a cliff if the head bagger told you to do so.....By the way, I have some swampland in Florida I'd love to sell to one of you. Really, I'll give you a great deal on it....seriously....no really, just for you, a sweet deal, a bargain at any price. It goes to the most psychotic responder who can recite today's riech wing squawking points....SQUAWK, SQUAWK!

They are being charged with CIVIL fraud. Obviously there is not enough evidence (FACTS) to support a criminal fraud charge. So why would the SEC announce a slap on the wrists at this time?

BTW the SEC also announced on Friday that they blew the whole Sanford investigation but that was buried in the MSM by the big "Goldman" news.

And if Goldman is so corrupt then why does this administration have so many ties to it?

Well Chris Dodd and Barney Frank had to come up with some sort of cover to try and hide the fact the two of them, more than any others pressured Freddie Mac and other quasi-government entities to back up loans being made helter-skelter to any illegal alien or other economic bottom-dweller who had no means to repay any housing loan whatsoever, begging the question as to whether they were terrorists. Dodd and Frank are identical in every way, as is Obama, trying to consolidate decision-making in D.C., where decisions are never made for the common good of American citizens but instead are made to expand command and control over some 330 million people living in the USA of which some 30 millions are illegal aliens sucking the lifeblood from the country.